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    Economy

    Chinese companies hit with record number of trade dispute cases in 2016

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    2017-01-05 14:59Global Times Editor: Li Yan ECNS App Download

    Chinese companies were the target of a record number of trade dispute cases in 2016, more than half of which involved the steel industry, the Ministry of Commerce (MOFCOM) announced on Thursday.

    About 27 countries and regions filed 119 trade remedy cases against China-made products in 2016, an increase of 36.8 percent from the previous year, ministry spokesperson Sun Jiwen said at a press conference in Beijing on Thursday.

    Many countries and regions have put restrictions on Chinese products such as photovoltaic panels, ceramic tiles and tires, Sun said.

    There were also a lot of trade disputes involving the chemical engineering and light manufacturing industries, according to MOFCOM.

    Sun noted that trade disputes grew politicized last year, and trade remedies tended to be extreme.

    "Trade remedies are a double-edged sword," Sun said. "Given the sluggish global economy, we hope each country and region will apply trade remedies cautiously."

    China would prefer to cooperate with other countries through negotiations to address trade disputes, in order to encourage a faster recovery of the global economy, Sun said.

      

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